Search Results For: 36(1)(viii)


Bajaj Auto Finance Ltd vs. CIT (Bombay High Court)

COURT:
CORAM: ,
SECTION(S): , ,
GENRE:
CATCH WORDS: , , ,
COUNSEL:
DATE: February 23, 2018 (Date of pronouncement)
DATE: March 8, 2018 (Date of publication)
AY: 1993-94
FILE: Click here to view full post with file download link
CITATION:
S. 143(1)(a): Submission of Dept that decisions of Courts and Tribunals interpreting a provision is to be ignored by the AO will ring the death knell of Rule of law in the Country. It ignores the hierarchical system of jurisprudence in our country. The AO is bound by the views of the Court. Law on s. 36(1)(viii) (Bad debts) explained

Litera Leges, certainty concept and on the concept that there is no equity on fiscal law irrespective of any judgment of any Hon’ble Court or Tribunal a go by cannot be given to the aforesaid interpretations given in this written submission”.

The above submission that decision of the Court and / or Tribunal interpreting a provision is to be ignored by the Assessing Officer, if accepted will ring the death knell of Rule of law in the country. The Assessing Officer is bound by the views of the Court. The above submission ignores the hierarchal system of jurisprudence in our country.

CIT vs. LIC Housing Finance Ltd (Bombay High Court)

COURT:
CORAM: ,
SECTION(S): ,
GENRE:
CATCH WORDS: ,
COUNSEL: ,
DATE: September 12, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: 2003-04
FILE: Click here to view full post with file download link
CITATION:
Creation of a reserve was sufficient to entitle the assessee to claim the benefit u/s 36(1)(viii) and the assessee was not obliged to maintain the said reserve

This court held in the matter of Grasim Industries Ltd. (supra) that the condition precedent to the exercise of jurisdiction under section 263 was that the order sought to be revised must be erroneous insofar as it was prejudicial to

Top